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Sellers Have No Problems Flipping This Renovated Four-Bed

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Looks like we've got another successful flip in Sag Harbor on our hands. Herringbone Properties picked up this four-bedroom for $455K back in July of 2011, "completely renovated" the place, and then put it right back on the market. Now, after nine months, a new agency, and a $100K pricechop, the $1.199M listing has clicked over to "In Contract." The final sale price won't be all profit, mind you. The sellers dumped a bunch of money into this place...the list of updates is an impressive one. Still, even with the healthy initial investment, they should end up with a nice return.
· Listing: 20 Hamilton Street - Sag Harbor Village [Douglas Elliman]